M&C has assets seized in China

Share

Hotelier Millennium & Copthorne (M&C) yesterday said a joint venture partner in China had seized control of an office, sacked staff and sold assets including a hotel and a resort. M&C said following his dismissal in November the partner and former manager had procured the sale of the West Coast Resort Hainan Hotel and a majority interest in a mixed use development in Dongguan, China. Its interest in the Chinese assets, including a loan, was $19m (£12m).